5.6. SR 06-13-2011 - Laserfiche WebLink

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Payable 2011 levy Limit $ 10,368,178 _ S eaal Levies = 1,333,855 _._._ _ _. __ _ P _ ._ _... _ .. _ __.__ Total Levy Limit (Pay 2011) $ 11,702,033 City Adopted 2011 Levy ; $ 11,112,391 __ Unused Levy $ 589,642 TaxTax Levy Over the next several months as we work towaxds balancing the budget, the amount of tax levy revenue will be a significant part of the process. At this point we should have some general discussions about the tax levy since other revenues and the expenditures will be presented at the next budget review to see where there is a gap. The chart below is a summary of the 2011 tax levy and the other levies that will need to be levied in 2012. 'The 2011 levy and the 20121evy illustration fox all the funds assuming no change in the total levy is shown below: ~.... General Fund ___... Library ,Surface Water Man Debt Service,,,,, _..._v. ,Economic Develops 2011 513 100 ment nt Tax Abatement 50,000 813,525 427, 253 11,112,391 2012 Difference 9, 731, 786 ~ _ (26, 72T, ~ 63,100 ~ - 50,000 839,001 ~ 25,476 428, 504 ' 1, 251 11,112, 391 - As you can see above, the levies at this point remain somewhat consistent with the prior year. You should note that in our long range planning the tax abatement levies will be reduced significantly in 2013 as United Health tax abatement will have reached the maximum amount. Change in Net Tax Capacity Last year the Net Tax Capacity (NTC) for the City decreased 2.91 %. In speaking with the County, they estimate a decrease of 6% NTC for taxes payable 2012. This will change as more accurate estimates will be available later in the year before the final levy is adopted. For planning purposes I anticipate using the negative 6% as the starting point as we move forward with the budget process. Pav and Benefits The last cost of living adjustment (COLA) employees received was 1.5% in January, 2009. Step increases have been included in the budget. Council direction on COLA for the preliminary budget would be helpful. The cafeteria contribution has been included at the 5% increase which has been consistent with the past two years. The health insurance rates for 2011 were an increase of 1.7% over 2010. We won't know until the fall what the rate will be for 2012, but the bid was capped at 13% for 2012. The health and dental insurance were both bid in fall 2010. N:\Public Bodies\City Council\Council RCA\Agenda Packet\OG-13-2011\2012 budget 06132011.docx